ECB Puts Pressure on Hypo Group

Businessn.a. ♦ Published: April 5, 2014; 18:50 ♦ (Vindobona)

The distressed Austrian nationalized lender has no access to the Eurosystem monetary policy credit instruments. About ten potential buyers might be interested in the Balkan lender.

ECB Cuts Hypo Group´s Acess to Funds / Picture: ©

Hypo Alpe Adria Bank International AG (Hypo Group) announced that the Governing Council of the ECB will suspend the access of Hypo Group to Eurosystem monetary policy credit instruments and to the ECB’s marginal lending facility until further notice. Furthermore, uncovered bank bonds (senior unsecured bonds) issued by Hypo Group cannot be used as eligible assets for Eurosystem credit…